Business, international

Big oil firms join hunt for natural gas in U.S

Article Abstract:

Natural gas exploration in the continental United States has become a trend in the petroleum industry. Exxon Mobil Corp. of the United States, BP PLC of the United Kingdom and Royal Dutch Shell PLC of the Netherlands are all planning gas exploration projects in the United States. The petroleum companies are drawn back to the United States by high natural gas prices, new advances in extraction technology and increasing competition in global markets that are often politically risky.

Pursuit of new oil supplies runs into a bottleneck

Article Abstract:

Oil prices have soared to over $60 per barrel at yesterdays close, spurring new petroleum production by energy companies. An increase in oil pumping and refining is forecast into this decade, hopefully leading to a decrease in oil prices. The petroleum industry is also facing a shortage of petroleum engineers in the United States.

Oil Companies reap cash windfall from price surge

Article Abstract:

The petroleum industry is reaping large revenues with the surge in oil prices, forecasting increased acquisitions, further spending on production or more windfalls for shareholders. The five largest petroleum companies in the world generated $67.4 billion in revenue last year.